ARCA biopharma, Inc. (NASDAQ:ABIO) Sees Significant Growth in Short Interest

ARCA biopharma, Inc. (NASDAQ:ABIO) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,660,000 shares, an increase of 2,792.2% from the March 31st total of 195,700 shares. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is presently 4.1 days. Approximately 39.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on ARCA biopharma in a research note on Saturday, April 20th. They set a “sell” rating for the company.

Hedge Funds Weigh In On ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. Cable Car Capital LLC bought a new position in ARCA biopharma, Inc. (NASDAQ:ABIO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma comprises 7.6% of Cable Car Capital LLC’s holdings, making the stock its 4th largest holding. Cable Car Capital LLC owned approximately 27.59% of ARCA biopharma at the end of the most recent reporting period. 56.44% of the stock is currently owned by institutional investors.

ARCA biopharma Stock Performance

ABIO stock opened at $3.58 on Friday. The company has a market capitalization of $51.91 million, a P/E ratio of -9.68 and a beta of 1.17. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $3.88. The business has a 50-day simple moving average of $2.23 and a two-hundred day simple moving average of $1.93.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly earnings results on Thursday, February 1st. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter.

About ARCA biopharma

ARCA biopharma, Inc, a clinical stage biopharmaceutical company, engages in the development and commercialization of targeted therapies for cardiovascular diseases. Its lead product candidate is Gencaro, a pharmacogenetically-targeted beta-adrenergic receptor antagonist that has completed Phase IIb trial for the treatment of atrial fibrillation in patients with heart failure.